RAK Properties is set to launch 12 new projects worth Dh5 billion ($1.36 billion) in Ras Al Khaimah in 2025, driven by strong demand in the emirate. These high-end villas and branded apartments will primarily be part of the Mina master development, which spans 4 million square meters.  The flagship project, Mirasol, a beachfront property featuring 339 units, studios, apartments, and duplexes, will launch first. Scheduled for handover by 2028, Mirasol units are priced at an average of Dh2,200 per square foot.  

These developments will be funded by RAK Properties' liquidity and a Dh2 billion financing agreement with the Commercial Bank of Dubai. The company aims to deliver 2,500 to 3,000 units in 2025 and double its sales to Dh3 billion.  

Property prices in Ras Al Khaimah have surged, with apartment sales rising 14% in 2024 and Al Hamra Village seeing an 18% increase. The $3.9 billion Wynn Al Marjan Island resort, opening in 2027, is a major driver, expected to be the largest Wynn property globally, three times the size of its Las Vegas counterpart.   Ras Al Khaimah’s robust economic growth, projected at 6.2% in 2024 and 5% in 2025 by Fitch Ratings, and strategic investments in tourism and industry, has fueled real estate demand. Currently, the emirate faces a gap of 40,000 new units.  

Other developers, including Aldar Properties, Dubai Investments, and Damac Properties, have also launched projects, highlighting Ras Al Khaimah's growing prominence as a real estate hub.